Why anyone would even charge 1 cent on it, I can only guess it's because they like to flash the roundel.

These cards prey upon those who cannot do math very well. It's like saying you get 1/4% on the first $1500, 1/2% on the 2nd $1500, and 1% after that. You'd be surprised how confused some people get when you ask them how much rebate do you get on a $3397.94 charge?